Pensions costs are killing Northern Kentucky U

The university’s payments into the state pension system have skyrocketed from $3.9 million in 2010 to $15.3 million this year. The projected cost for 2018 is $19.4 million.

Mearns, who laid out the budget situation in a presentation here, said 2 percent of NKU’s operating budget went into pension costs in 2010 and that nearly 10 percent of the budget will be dedicated to the pension fund by 2018.